YAHOO [BRIEFING.COM]: U.S. equity markets remain closed as Hurricane Sandy approaches New York City. Note that the markets will also be closed tomorrow.

The European session has now ended, and all key bourses registered losses.

France's CAC settled lower by 0.8% and defensive telecom and utility stocks lagged throughout the session. Alcatel-Lucent and Vivendi lost 3.3% and 1.9%, respectively. Meanwhile, Veolia Environnement fell 4.8% after the company was reported to be looking into a capital increase in order to lower debt. Among the advancers, tire maker Michelin gained 1.3%, and was the top performer on the CAC.

Germany's DAX slipped 0.4%. ThyssenKrupp slid 3.8%, and was the worst performer after the steelmaker asked interested parties to resubmit offers for its American unit after initial bids were deemed too low. Chemical producer Linde gained 2.4% on strong earnings.

In the United Kingdom, the FTSE shed 0.2% and financials showed broad weakness. Insurer Hargreaves lost 4.2% after Citigroup downgraded the stock to ‘sell' from ‘neutral.' Admiral Group and Old Mutual settled lower by 2.1% and 1.6%, respectively. Technology stocks showed strength as ARM Holdings and Sage Group saw respective gains of 1.4% and 1.8%.

Greece's Athens Stock Exchange was a notable outlier as the index lost 6.3%. Earlier, a story out of Germany's Der Spiegel indicated private bondholders may have to face some losses. Financials saw significant pressure as Bank of Spain, National Bank of Greece, and Piraeus bank all lost between 14.9% and 18.6%.

Italy's 10-yr yield added 11 basis points and it currently sits at 5.019%. Meanwhile, Spain's 10-yr benchmark yield edged up six basis points, to 5.656%.

The euro trades near its session low against the dollar as the currency pair trades at 1.2892.

09:18 am : [BRIEFING.COM] S&P futures vs fair value: -4.60. Nasdaq futures vs fair value: -15.50. As a reminder, U.S. equity markets are closed today. In addition, futures trading stopped at 9:15 ET. The S&P 500 futures ended lower by 0.4%, Nasdaq futures shed 0.6%, and Dow futures lost 0.5%. The bond market is currently open, but will close at noon ET.

Looking at overseas action, major Asian indices settled lower. China's Shanghai Composite was a notable underperformer, down 0.5%. Meanwhile, Japan's Nikkei finished unchanged ahead of the Bank of Japan policy meeting, scheduled for this evening.

Key European bourses are also lower this morning. France's CAC is lower by 0.8% while Germany's DAX is down 0.5%, and United Kingdom's FTSE is shedding 0.4%.

Peripheral yields have inched higher today as Spain's 10-yr benchmark yield rose six basis points to 5.647%, and Italy's 10-yr rate increased by ten basis points, to 4.994%.

The dollar index is higher by 0.2% as it hovers near the 80.20 level. The euro is losing 46 basis points against the greenback, and the pair currently trades at 1.2896. Compared to the Japanese yen, the dollar is sliding 0.1%, and the pair is trading at 79.58.

09:01 am : [BRIEFING.COM] S&P futures vs fair value: -6.90. Nasdaq futures vs fair value: -19.80. U.S. equity futures have lifted off their pre-market lows, but they remain firmly in the red. The S&P 500 futures are slipping 0.5%.

The major Asian averages ended mixed amid cautious trade as Hurricane Sandy bears down on New York City. There was no data from the region released overnight.

Japan's Nikkei closed unchanged as traders were cautious ahead of tonight's Bank of Japan rate decision where many expect an increase to the central bank's asset purchase program. Honda Motor fell 4.7% after an inadvertent earnings release showed the company lower its full-year profit forecast because of the weak demand in China. Rivals Nissan Motor and Toyota Motor fell 2.2% and 1.6% respectively as they piggybacked the move. Meanwhile, NEC jumped 5.7% after announcing a 38% year-over-year rise in profit.

In Hong Kong, the Hang Seng shed 0.2% as property developers were hit hard. New World Development tumbled 7.8% and Henderson land plunged 6.8% after Hong Kong announced a 5% increase on the duty for property transactions, and a buyers tax for non-local residents and companies. Elsewhere, oil giant Sinopec rallied 3.7% after its earnings.

China's Shanghai Composite settled lower by 0.4% amid a quiet trade. Ping An Insurance fell for a fifth consecutive session, losing 4.2% ahead of tomorrow's earnings. Meanwhile, Wuhan Iron & Steel slipped 0.8% after third quarter net-profit tumbled 53% on weaker demand.

European markets are broadly lower. The region's macroeconomic data was limited to mostly in-line and better-than-expected lending numbers out of Great Britain. Meanwhile, reports out of German Der Spiegel indicate the Eurozone partners will demand an additional 150 reforms when they meet again on Wednesday. Elsewhere, a Bank of England member tempered expectations following the UK's strong third quarter GDP reading, by stating that the data may have received a boost from the Olympics.

In France, the CAC is down 1.1% and defensive utility and communications stocks are showing weakness. Veolia Environnement is down 4.2% and Alcatel-Lucent is sliding 3.3%. Meanwhile, financials are also weighing on the index. Credit Agricole and Societe Generale are both lower by 2.0%. Carrefour is the only advancer among equities listed on the CAC. The shares of the food retailer are trading higher by 0.5%.

Germany's DAX is sliding 0.8% as industrials and car makers weigh on the index. ThyssenKrupp is down 3.5% after the steelmaker asked interested parties to resubmit offers for its American unit after initial bids were deemed too low. Daimler and BMW are seeing respective losses of 2.0% and 1.3% after Daimler cut its profit target for next year. On the upside, chemical producer Linde is rising by 2.6% after its third quarter earnings exceeded expectations.

In the United Kingdom, the FTSE is lower by 0.5% and financials are showing broad weakness. Admiral Group, Hargreaves Lansdown, and Old Mutual are all down between 1.9% and 4.9%. Looking at the advancers, industrials Meggitt and Weir Group are both up near 1.2%.

08:33 am : [BRIEFING.COM] S&P futures vs fair value: -8.90. Nasdaq futures vs fair value: -23.30. U.S. equity futures have shown little change to the latest income, spending, and core prices data. The S&P 500 futures are lower by 0.7%.

Personal income increased in September by 0.4%, which is in-line with expectations. Personal spending increased by 0.8%, which is better than the Briefing.com consensus estimate of a 0.6% increase. Lastly, core personal consumption expenditures were higher by 0.1%, which is in-line with expectations.

08:01 am : [BRIEFING.COM] S&P futures vs fair value: -8.80. Nasdaq futures vs fair value: -22.30. U.S. equity futures are modestly lower amid downbeat overseas trade. Note that U.S. equity markets will be closed today due to Hurricane Sandy. In addition, the Chicago Board Options Exchange has cancelled all trading.

Overnight, the global equity markets were mostly lower. Reports out of China suggested there is little chance of any near-term interest rate cut due to foreign currency positions and money supply growth. Also, the economy does not present the conditions for intervention since global quantitative easing has limited the nation's monetary policy options. Meanwhile, Japan was virtually unchanged following worse-than-expected retail trade data, but slightly better-than-expected large retailers' sales results. The yen was mostly weaker overnight in advance of the Bank of Japan meeting tomorrow, during which an increase to its asset purchase plan is expected. Looking at regional indices, China's Shanghai Composite lost 0.4%, Hong Kong's Hang Seng shed 0.2%, and Japan's Nikkei ended virtually unchanged.

In Europe, macro data was limited to mostly in-line and better-than-expected lending numbers out of Great Britain. In addition, German CPI will be released at 8:00 ET. Reports out of German Der Spiegel indicate the Eurozone partners will demand an additional 150 reforms when they meet again on Wednesday. Elsewhere, a Bank of England member tempered expectations following the UK's strong third quarter GDP reading, by stating that Q3 data may have received a boost from the Olympics. Nearing midday, European bourses are broadly lower. France's CAC is down 1.0%, Germany's DAX is lower by 0.7%, and UK's FTSE is off by 0.6%.

In U.S. corporate news, Burger King Worldwide (BKW 14.95, 0.00) reported third quarter earnings of $0.17 on revenue of $451.1 million. Both numbers were ahead of the Capital IQ consensus estimates which expected the fast food operator to earn $0.14 on $442.96 million in revenue. In addition, the company initiated a quarterly cash dividend of $0.04 per share.

Harris (HRS 47.14, 0.00) announced first quarter earnings of $1.14 which was $0.01 better than the Capital IQ consensus estimate. However, the communication company's revenue of $1.26 billion fell short of the expected $1.30 billion. Note that the company also reaffirmed its full-year 2013 earnings and revenue guidance.

New Oriental Education & Technology (EDU 16.69, 0.00) also reported its quarterly results. During the first quarter, the for-profit education provider earned $0.65 which was $0.10 worse than the Capital IQ consensus estimate. The company's revenue of $335.8 million also fell short of analyst expectations. Lastly, the company issued downside second quarter guidance.

Looking at today's economic data, September personal income, personal spending, and core PCE prices will all be released at 8:30 ET.

06:32 am : Nikkei...8929.34...-3.70...0.00.  Hang Seng...21511.05...-34.50...-0.20%.

06:32 am : FTSE...5770.91...-35.80...-0.60%.  DAX...7178.65...-53.20...-0.70%.

06:30 am : S&P futures vs fair value: -8.50. Nasdaq futures vs fair value: -20.50.